The IPO is expected to be priced between $20-$23 per share. At
the high end of the range, the company would have a valuation of
about $8 billion.
In July, Lilly said it would take Elanco public, marking the end
of a nine-month review that weighed options for the unit.
Analysts have cited the strong growth of top animal-health
company Zoetis Inc since Pfizer listed it about five years ago.
Zoetis' IPO https://www.reuters.com/article/us-zoetis-idUSBRE90U1EE20130131
raised $2.2 billion and the company currently has a market
capitalization of $43 billion.
For the six months ended June 30, Elanco's net income was$9.9
million and the company brought in revenue of $1.5 billion.
(Reporting by Ankur Banerjee in Bengaluru; Editing by Sweta
Singh and Shounak Dasgupta)
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